The Onion sums up the stupidity of privatizing Social Security so well, they hardly leave room for further comment: "New Social Security Plan Allows Workers To Put Portion Of Earnings On Favorite Team."
"It's your money," they quote Bush as saying. "You earned it. You should be able to bet it on whatever team you want." Heh-heh.
Call me a Commie, but there's something despicable about saying, "Hey, here's you're retirement savings, feel free to gamble on your future." All in the name of avoiding "socialism," which you'd think were akin to the black plague or something. As if it weren't actually working in countries like Canada and half of Europe. I'm not for a purely communistic society any more than I am for unchecked capitalism, but blend of socialistist capitalism would be nice. Privatized social security just reeks of Capitalism worship to me. I'm sure the Ayn Rand acolytes approve.
[Robert hits Google.]
Well, whaddya know: they do approve. Only they believe Bush isn't going far enough. Of course, they do. "This is why the left loves Social Security," writes Robert W. Tracinski, a senior writer for the Ayn Rand Institute. "It is a system under which all must sacrifice for all--and none may profit. Everyone is made dependent on government--and no one is allowed to provide for himself." See how the Aynrandians despise community? Look out for yourself only. Contribute to the increasing isolation in American society. Yeah! &$%ing Objectivists. How about some balance? Night, day. Man, woman. Capitalism, socialism. Isn't it as plain as the nose on your face that you can't have one without the other? I mean, that's no profound economic discovery on my part, is it?
Of course, what Tracinski neglects to mention is that the filthy rich are already profoundly capable of saving millions and making a killing in the stock market and that the money they dole out for social security has zero impact on their lifestyles. You see, it's the principle the Objectivist's are standing up for: you don't let the parasitic poor benefit from the hard-earned fruits of your illegal stock trades.
(Onion Story via Kevin Drum.)